Embed Size (px)
DESCRIPTION
Lease with right to purchase your new or 1st home in the greater Seattle community. Lease from 1 to 5 years convert to a purchase any time during the lease.
Citation preview
What is it?
How does it work?
Who benefits?
Lease With Right to Purchase
(206) 714-0315 | [email protected] | www.briankasen.com
New Home Buying Program Offering
Program provides:
•a transparent new path to home ownership
• three to five years of rent certainty
•with an initial financial commitment of one
year
What is Lease With Right to Purchase
The program is not from a
homebuilder or mortgage
company.
What is Lease With Right to Purchase
You can choose a home in your price range
from any home that is for sale in the greater
Seattle community and Northwest Multiple
Listing Service (NWMLS).
IF YOU QUALIFY?
Lease With Right to Purchase
The program buys the house you choose:
• then leases it to you
•you have the right to purchase the house
when you are ready and able
• for a price that is pre-established in the
lease
What is Lease With Right to Purchase
There is no incentive to share an interest in finding you
a home for a long-term commitment at any price.
ADVANTAGES OF STANDARD LEASE
How Does Standard Lease Work
ADVANTAGES OF RIGHT TO PURCHASE
This program and its residents share a common interest in finding a home
for a long-term commitment at a good price.
ADVANTAGES OF STANDARD LEASE
How Does Lease With Right to Purchase Work
Each year, monthly rent increases by no more than 3.75%.
For example, if the monthly rent for Year 1 is $1,400 per month,
the increase for the next year is $50/month.
How Does Lease With Right to Purchase Work
Total Cost of the home in the program pays
for:
the home
the closing costs
any renovations and/or initial repairs
How Does Lease With Right to Purchase Work
Total Cost of the home, renovations and/or
repairs is used to determine the resident's
Purchase Price of the home in the lease.
How Does Lease With Right to Purchase Work
Each year, the Purchase Price of the home increases by 5%
(i.e., Prior Year Purchase Price x 1.05).
How Does Lease With Right to Purchase Work
This graph shows the Total Cost Basis of the home is $215,000 (x1.05) and
the Purchase Price for Years 1-5 as shown.
The resident's commitment is limited to:
the first year Lease
resident does not have to renew the
lease after the first year
the maximum number of years of the
lease is five
Lease With Right to Purchase Agreements
Residents will be required to treat
the home as their own:
• maintain the lawn and garden
• remove snow or other debris
• and complete minor repairs
Lease With Right to Purchase Agreements
The program is responsible for any major
maintenance items during the term of the
Lease!
Lease With Right to Purchase Agreements
The Purchase Agreement gives the
resident the right to purchase the home
at a pre-defined price for each year of
the Lease, as long as the resident is in
compliance with the lease terms.
Lease With Right to Purchase Agreements
The Right to Purchase agreement
does not obligate the resident to buy
the home.
Lease With Right to Purchase Agreements
If for any reason the resident decides to
leave the home at the end of a Lease term
and is in compliance with the Lease, the
full security deposit will be returned.
Lease With Right to Purchase Agreements
Within 24 hours of a seller accepting the program
offer for the purchase of a home, prospective
residents will be required to:
• sign the Lease
• sign the Purchase Right Agreement
• and tender the first, last month and security
deposit, all to be held in escrow
Lease With Right to Purchase Agreements
Escrow balance can be used for down
payment if resident elects to purchase
anytime during the lease.
Lease With Right to Purchase Agreements
• First time home buyers
• Relocating home buyers that need a
home quickly
• Try-it before you Buy-it.
Who Benefits From Lease With Right to Purchase
• Buyers with wounded credit. ( This
program provides the buyer time to
repair credit by making lease
payments.)
• Save for down payment while leasing
your home.
Who Benefits From Lease With Right to Purchase
Lease With Right to Purchase
Email: [email protected]
Text: (206) 714-0315
Call: (206) 714-0315
Please call, text or email me anytime. I will provide additional
information and resources about this great program at your request.
Additional information can be obtained at www.briankasen.com
